Business

Apple Sold 3 Million New iPads During Opening Weekend

Apple announced Monday that it sold three million iPad minis and fourth-generation iPads in the first three days that the two new iPads were available.

As Apple points out in its announcement, that's twice the number of Wi-Fi-only iPad 3s that it sold during that product's opening weekend in March — there are only WiFi models of the iPad mini and fourth-generation iPad available at the moment. However, since this latest sales figure takes into account two different iPad models, it's not exactly comparing apples to apples (no pun intended).

In the lead up to the launch weekend, there were doubts about demand for the iPad mini in particular. On Friday, the day the products launched, the lines were shorter in many locations compared to previous launches, suggesting that sales for the new devices might be tepid. That said, Apple did sell out its entire first run of iPad minis and fourth-generation iPads in the first few days they were available for pre-sale.

Even Gene Munster, a top Apple analyst who is typically bullish on his Apple estimates, predicted Apple would sell just 1 million to 1.5 million iPad minis in the first weekend. He pinned this cautious estimate on two factors: Some consumers would be hesitant about the new, smaller form factor and Apple isn't launching LTE-enabled versions of the new iPads until later this month.

Ultimately, though, many stores did reportedly sell out of the new iPads during the launch weekend, and the new sales figure suggests Apple surpassed Munster's estimate for iPad mini sales — unless you believe that customers purchased more than two million fourth-generation iPads with only mild improvements over the previous model released just seven months ago.

“Customers around the world love the new iPad mini and fourth generation iPad,” said Tim Cook, Apple’s CEO. “We set a new launch weekend record and practically sold out of iPad minis. We're working hard to build more quickly to meet the incredible demand.”

Investors seemed to like the news, unlike with the iPhone 5 opening weekend sales figures. Apple's stock was up more than 1% in early trading Monday on the news.

What's Hot

More in Business

What's New

What's Rising

What's Hot

Mashable
is a leading source for news, information and resources for the Connected Generation. Mashable reports on the importance of digital innovation and how it empowers and inspires people around the world. Mashable's record 42 million unique visitors worldwide and 21 million social media followers are one of the most influential and engaged online communities. Founded in 2005, Mashable is headquartered in New York City with an office in San Francisco.